Category

Analytics
A man places an arrow on a digitized dartboard

Unit Level Economics for Franchise Businesses

We have all heard that Unit Level Economics is important in franchising but going from understanding it in theory to transforming it into action is a big step.  According to QSR Magazine, “the success or failure of a franchise concept can pivot off of how well unit economics are tracked, managed, and improved.” After working with over 900 brands a common practice among them is working together with their franchisees to improve their unit-level economics: not only their top-level sales but also their bottom line. If you’re not doing this today, you will have trouble selling franchises in the future.

(more…)

A woman looks at FranConnect's dashboard on her desktop whilst talking on the phone

Introducing FranConnect Franchise Scorecards – a snapshot of your franchise’s health!

We recently launched Franchise Scorecards and are excited to share the news! The franchise scorecards, part of FranConnect’s Operations platform, equip brands with a complete view of the health of a unit at your fingertips helping franchisees drive unit-level economics. Anyone involved with franchise field visits likely agrees that the prep work for a visit can be daunting. It seems to take hours, pulling information from different systems to end up with questionable economic insights. Additionally, comparing one unit against the average of their peers is nearly impossible without having key performance metrics identified.

(more…)

A hand sets down a wooden block with a lightbulb on it next to other wooden blocks with brains on them

4 Things Keeping Franchisors Up at Night

At a recent franchising conference, we were lucky enough to sit down for interviews with a variety of senior executives from the FranConnect customer base. This included franchise brands of different sizes and from different industries.  We asked them what business challenges are most important for them to solve using technology. It was great to know how they are getting so much value from FranConnect, but it was also enlightening to hear some of the common themes that surfaced. Here are four of them, with actual soundbites from those customer interviews. For the full catalog of interviews, check out our Testimonials Resource Center.

(more…)

A businessman zooms into graphs on his tablet during a meeting

Highlights from the Franchise Sales Index Report: Mid-Year Update

Our annual FranConnect Franchise Sales Index Report features real-world data culled from our brands spanning across the franchise platform. After an eventful yet encouraging first half of 2021, for the first time ever we are looking at the data mid-year for an in-the-moment view on the state of franchise development. This data offers significant insights for franchisors looking to grow and develop their franchise brands and make the right sales and marketing investments. Peering into the data of how franchisors handled the first half of the year reveals some promising signs. It may be too soon to say, but it seems that most verticals are showing improvements on key metrics. In this post, we will share some of the high-level findings, and give you access to a webinar where the report’s author, Keith Gerson, will break down everything you need to know.

(more…)

Stylist cutting client's hair at a salon

9 Important KPIs for Spa and Salon Franchises

While some spa and salon franchises recognize the need to measure key performance indicators (KPIs), many rely more on intuition than analyzing the numbers. And while it takes soft skills to create an inviting atmosphere, satisfied clients, and happy employees, understanding the numbers that drive your business will help your spa or salon find — and keep — its place in the market.

(more…)

A young businesswoman analyzes a graph closely

How to Use KPIs as a Tool for Franchise Business Planning

Key performance indicators (KPIs) are tightly integrated with franchise business planning because business plans contain key results (KRs). KPIs are a subset of these key KRs, which the franchise uses to measure its performance.

(more…)

1 2 3 4